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Interactive Brokers vs FXCM 2022

ForexBrokers.com

Written by ForexBrokers.com

November 08, 2022

Is Interactive Brokers better than FXCM? In our analysis of 23 international regulators across 39 of the best forex brokers, Interactive Brokers is considered low-risk, with an overall Trust Score of 99 out of 99. FXCM is considered low-risk, with an overall Trust Score of 96 out of 99. Learn more about Trust Score.

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Overall RatingInteractive BrokersFXCMIG
Overall Rating5 Stars4.5 Stars5 Stars
Commissions & Fees5 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools5 Stars5 Stars5 Stars
Mobile Trading5 Stars4 Stars5 Stars
Research5 Stars4.5 Stars5 Stars
Education4.5 Stars4 Stars5 Stars
Trust Score999699
Winnercheck_circle
ReviewInteractive Brokers ReviewFXCM ReviewIG Review
RegulationInteractive BrokersFXCMIG
Trust Score999699
Year Founded197719991974
Publicly Traded (Listed)YesYesYes
BankNoNoYes
Tier-1 Licenses837
Tier-2 Licenses132
Tier-3 Licenses001
Authorised in European UnionYesYesYes
About RegulationA โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.A โ€œYesโ€ for any individual regulator indicates that the broker has at least one brand or entity that is licensed and/or authorized by that regulator within its group/organizational structure. Learn more about Trust Score.
Tier-1 Licenses (High Trust)Interactive BrokersFXCMIG
ASIC Authorised (Australia)YesYesYes
IIROC Authorised (Canada)YesYesNo
SFC Authorised (Hong Kong)YesNoNo
CBI Authorised (Ireland)YesNoNo
FSA Authorised (Japan)YesNoYes
MAS Authorised (Singapore)YesNoYes
FINMA Authorised (Switzerland)YesNoYes
FCA Authorised (U.K.)YesYesYes
CFTC Registered (USA)YesNoYes
FMA Authorised (New Zealand)NoNoYes
Tier-2 Licenses (Average Trust)Interactive BrokersFXCMIG
CBRC Authorised (China)NoNoNo
CySEC Authorised (Cyprus)NoYesNo
SEBI Authorised (India)YesNoNo
ISA Authorised (Israel)NoYesNo
CBR Authorised (Russia)NoNoNo
FSCA Authorised (South Africa)NoYesYes
SEC Authorised (Thailand)NoNoNo
DFSA / Central Bank Authorised (UAE)NoNoYes
Tier-3 Licenses (Low Trust)Interactive BrokersFXCMIG
SCB Authorised (Bahamas)NoNoNo
IFSC Authorised (Belize)NoNoNo
CIMA Authorised (Cayman Islands)NoNoNo
BMA Authorised (Bermuda)NoNoYes
FSC Authorised (British Virgin Islands)NoNoNo
FSC Authorised (Mauritius)NoNoNo
VFSC Authorised (Vanuatu)NoNoNo
InvestmentsInteractive BrokersFXCMIG
Forex Trading (Spot or CFDs)YesYesYes
Tradeable Symbols (Total)850044119537
Forex Pairs (Total)9044100
U.S. Stock Trading (Non CFD)YesYesYes
Int'l Stock Trading (Non CFD)YesYesYes
Social Trading / Copy TradingNoYesYes
Cryptocurrency (Physical)YesNoNo
Cryptocurrency (CFD)NoYesYes
DisclaimersNote: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
CostInteractive BrokersFXCMIG
Average Spread EUR/USD - Standard0.6 (Aug 2022)1.38 (Q2 2022)0.86 (September 2022)
All-in Cost EUR/USD - Active0.6 (Aug 2022)1.38 (Q2 2022)0.5957 (September 2022)
Active Trader or VIP DiscountsYesYesYes
Execution: Agency BrokerYesYesYes
Execution: Market MakerNoYesYes
FundingInteractive BrokersFXCMIG
Minimum Initial Deposit$0Starts from $50ยฃ250.00
PayPal (Deposit/Withdraw)NoNoYes
Skrill (Deposit/Withdraw)NoYesNo
Visa/Mastercard (Credit/Debit)NoYesYes
Bank Wire (Deposit/Withdraw)YesYesYes
Trading PlatformsInteractive BrokersFXCMIG
Proprietary PlatformYesYesYes
Desktop Platform (Windows)YesYesYes
Web PlatformYesYesYes
Social Trading / Copy TradingNoYesYes
MetaTrader 4 (MT4)NoYesYes
MetaTrader 5 (MT5)NoNoNo
cTraderNoNoNo
DupliTradeNoNoNo
ZuluTradeNoYesNo
Trading ToolsInteractive BrokersFXCMIG
Virtual Trading (Demo)YesYesYes
Alerts - Basic FieldsYesYesYes
Watchlists - Total Fields6401214
Charting - Indicators / Studies (Total)1285733
Charting - Drawing Tools (Total)852620
Charting - Trade From ChartYesYesYes
Charts can be savedYesYesYes
Mobile TradingInteractive BrokersFXCMIG
Android AppYesYesYes
Apple iOS AppYesYesYes
Mobile Alerts - Basic FieldsYesYesYes
Mobile WatchlistYesYesYes
Watchlist SyncingYesYesYes
Mobile Charting - Indicators / Studies975933
Mobile Charting - Draw TrendlinesYesYesYes
Mobile Charting - Multiple Time FramesYesYesYes
Mobile Charting - Drawings AutosaveNoYesYes
Forex CalendarYesYesYes
ResearchInteractive BrokersFXCMIG
Daily Market CommentaryYesYesYes
Forex News (Top-Tier Sources)YesYesYes
AutochartistNoYesYes
Trading Central (Recognia)YesYesNo
Social Sentiment - Currency PairsYesYesYes
Economic CalendarYesYesYes
EducationInteractive BrokersFXCMIG
Has Education - Forex or CFDsYesYesYes
Client WebinarsYesYesYes
Client Webinars (Archived)YesYesYes
Videos - Beginner Trading VideosYesYesYes
Videos - Advanced Trading VideosYesYesYes
Investor Dictionary (Glossary)YesYesYes
Major Forex PairsInteractive BrokersFXCMIG
GBP/USDYesYesYes
USD/JPYYesYesYes
EUR/USDYesYesYes
USD/CHFYesYesYes
USD/CADYesYesYes
NZD/USDYesYesYes
AUD/USDYesYesYes
ReviewInteractive Brokers ReviewFXCM ReviewIG Review
OverallInteractive BrokersFXCMIG
Overall Rating5 Stars4.5 Stars5 Stars
Commissions & Fees5 Stars4 Stars5 Stars
Offering of Investments5 Stars3.5 Stars5 Stars
Platform & Tools5 Stars5 Stars5 Stars
Mobile Trading5 Stars4 Stars5 Stars
Research5 Stars4.5 Stars5 Stars
Education4.5 Stars4 Stars5 Stars
Trust Score999699
Winnercheck_circle
ReviewInteractive Brokers ReviewFXCM ReviewIG Review
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Interactive Brokers vs FXCM Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare Interactive Brokers vs FXCM.

Does Interactive Brokers or FXCM offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Interactive Brokers offers better pricing overall for traders.

Is Interactive Brokers or FXCM safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Interactive Brokers holds 8 global Tier-1 licenses, while FXCM holds 3. FXCM holds 3 global Tier-2 licenses, while Interactive Brokers holds 1. In our analysis of 23 international regulators across 50 brokers, Interactive Brokers earned a higher Trust Score than FXCM.

Which trading platform is better: Interactive Brokers or FXCM?

To compare the trading platforms of both Interactive Brokers and FXCM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IG offers a better experience. With research, IG offers superior market research. Finally, we found IG to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

Interactive Brokers provides traders 90 currency pairs (e.g., EUR/USD) compared to FXCM's 44 available pairs. Forex pairs aside, Interactive Brokers offers traders access to 8500 CFDs while FXCM has 441 available CFDs, a difference of 8059.

Can I trust Interactive Brokers?

Interactive Brokers is publicly traded, does not operate a bank, and is authorised by nine tier-1 regulators (high trust), one tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Interactive Brokers is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), Monetary Authority of Singapore (MAS), and the Commodity Futures Trading Commission (CFTC).

Can I trust FXCM?

FXCM's parent company is publicly-traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), three tier-2 regulators (average trust), and zero tier-3 regulators (low trust). FXCM is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Financial Conduct Authority (FCA), and via Friedberg Direct, with the Investment Industry Regulatory Organization of Canada (IIROC).

Is Interactive Brokers good?

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

Is FXCM good?

For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.

Overall winner: IG

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We review each brokerโ€™s overall global offering โ€“ a โ€œYesโ€ checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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